Credit Card Account Activity After Closing

cooter2010

Hi, I had a Creation credit card which was closed over a year ago. I was surprised to receive a statement this morning showing a credit in June and a debit for the same amount a week later. I have contacted Creation who advised it was an internal error as someone had applied the credit internally. Can they do this when the account is closed? I was surprised they still had access to it. They assured me the account was closed on the phone but could not answer when I said why have I received a statement then!!

The statement shows all my original data, credit limit etc. Does anyone know if this will go on my credit report?

Thanks

flaneurs_lobster

Not surprised that the account details are still available, being a "closed" account is just a status against the details.

Moving data in/out of the account was clearly an error, as was the consequential generation of a statement.

Any financial institution will be holding on to the data for (typically) five to seven years after the account is closed.

Will it generate a report to the credit reference agencies? Maybe, but it's difficult to say what they might do with it or how it will show (if at all). Can't imagine that a debit/credit in the same month is going to make any significant change, they are generally only interested in continuing debt.

mta999

Five to seven years? I recently applied for a Barclaycard, installed the app and was surprised (to say the least) to see my 2014-2012 statements available (from when I held a card at that time)

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/6675625/credit-card-account-activity-after-closing

GDPR requires firms to minimise the amount of personal identifiable data they hold unless there are legitimate reasons to do so. Generally the consensus is that at a minimum a company will keep customer data for at least 6 years from the date of the account closure because you have 6 years to sue them for breach of contract or raise a complaint etc. Courts and the Ombudsman dont look very well on firms who say they cant say what's happened as the records were deleted.

Get yourself across to the car finance reclaim part of this website and you will get people complaining that their car finance company says they dont have records from 2009 so you are the polar opposite complaining they have the data 1 year later.

There are real practical reasons why they need to hang on to details… if a merchant refunds you for something you bought a year ago it will just be sent to the card number. There is no authorisation in refunds so the card company doesnt get to say the account is closed. Without holding details they'd have no idea who the money is for, if the account was in good standing so should be forwarded on/returned to sender or if its a bad debtor who still owed money so the monies can be offset.

Each bank will have its own rules over who and why an account can be reopened. As to the CRAs, the account should still be showing there anyway so a brief opening and reclosing at worst will extend how long it shows there but the chances are it was closed again and the monthly feed didnt happen during the period it opened so will just still show as closed.

NotRichOrFamous

I have just received an email from Creation stating my current balance is -£2K with a minimum payment of £0.

The credit card account was closed approximately two years ago.

The hot weather must be causing their I.T. systems to overheat!

dumpster_fire2025

https://forums.moneysavingexpert.com/discussion/comment/82069083#Comment_82069083

Apparently they owe you £2K.

pochisoldi

If you really want to know, do a subject access request to them to find out what they've got. To keep the volume of info down, ask them for information between the day before the account was originally closed and today or the date of the last statement.

My money is on a cockup, for example someone doing a balance transfer and accidentally entering details for your account, where "someone" is either the customer who wanted the balance transfer or the operative responsible for entering the required info in to "the system".

NotRichOrFamous

https://forums.moneysavingexpert.com/discussion/comment/82069636#Comment_82069636

A cheque for £2k from Creation would be very welcome, but I’m not holding my breath.

On a serious note, I’m surprised there are remnants of my account still lurking on their servers.